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Bel Fuse (BELFA) Financials

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$230.83 -2.72 (-1.16%)
As of 01:27 PM Eastern
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Annual Income Statements for Bel Fuse

Annual Income Statements for Bel Fuse

This table shows Bel Fuse's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 19 -65 -12 -378 -8.74 13 25 53 74 41 62
Consolidated Net Income / (Loss)		 19 -65 -12 0.00 -8.74 13 25 53 74 49 74
Net Income / (Loss) Continuing Operations		 19 -65 -12 -378 -8.74 13 25 53 74 49 74
Total Pre-Tax Income 		26 -83 9.64 24 -7.30 12 27 59 83 62 95
Total Operating Income		 29 -77 17 27 -1.60 19 31 65 88 64 111
Total Gross Profit		 109 100 102 -259 110 120 134 183 216 202 264
Total Revenue		 567 500 492 150 492 466 543 654 640 535 675
Operating Revenue		 567 500 492 150 492 466 543 654 640 535 675
Total Cost of Revenue		 458 400 389 409 382 346 409 471 424 332 411
Operating Cost of Revenue		 458 400 389 409 382 346 409 471 424 332 411
Total Operating Expenses		 80 176 85 112 112 101 103 118 128 138 153
Selling, General & Admin Expense		 78 71 85 83 77 79 87 92 99 111 126
Research & Development Expense		 - - - 29 27 24 22 20 22 24 31
Other Operating Expenses / (Income)		 - - - - - - - - 0.00 0.00 3.11
Impairment Charge		 0.00 106 - 0.00 8.89 - - 0.00 0.00 0.40 0.00
Restructuring Charge		 2.11 2.09 0.31 0.22 2.59 0.60 1.20 7.32 10 3.46 -0.68
Other Special Charges / (Income)		 0.16 -2.64 - 0.00 -4.26 -1.85 -6.58 -1.60 -3.82 0.00 -5.70
Total Other Income / (Expense), net		 -2.87 -6.04 -7.74 -3.33 -5.71 -6.53 -3.93 -6.09 -4.68 -2.49 -16
Interest Expense		 7.59 6.66 6.80 5.32 5.45 4.75 3.54 3.38 2.85 4.08 15
Interest & Investment Income		 4.72 0.62 - - - - - 0.18 1.70 4.75 -12
Other Income / (Expense), net		 - - -0.94 1.99 -0.26 -1.79 -0.39 -2.89 -3.52 -3.17 11
Income Tax Expense		 6.54 -18 22 2.91 1.44 -0.66 2.51 6.37 9.47 13 21
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - - - - 0.00 0.00 8.23 13
Basic Earnings per Share		 - - - $1.73 ($1.42) $2.02 $3.92 $8.25 $11.35 $6.38 $9.56
Weighted Average Basic Shares Outstanding		 11.70M 12.03M 12.03M 9.94M 2.17M 2.15M 12.40M 12.54M 12.78K 12.62K 12.64K
Diluted Earnings per Share		 - - - $1.73 ($1.42) $2.02 - - $5.83 $3.28 $4.90
Weighted Average Diluted Shares Outstanding		 11.70M 12.03M 12.03M 9.94M 2.17M 2.15M 2.15M 12.78M 10.63K 10.49K 10.55K
Weighted Average Basic & Diluted Shares Outstanding		 11.70M 12.03M 12.03M 9.94M 12.28M 12.33M 2.15M 12.78M 12.76M 12.54M 12.66M

Quarterly Income Statements for Bel Fuse

This table shows Bel Fuse's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 12 16 19 8.08 -1.80 18 27 22 -5.45 11 25
Consolidated Net Income / (Loss)		 12 16 19 8.08 6.43 18 27 23 6.44 15 34
Net Income / (Loss) Continuing Operations		 12 16 19 8.08 6.43 18 27 23 6.44 15 34
Total Pre-Tax Income 		13 20 23 11 7.39 24 34 28 9.56 18 38
Total Operating Income		 16 18 23 11 12 25 30 30 26 24 38
Total Gross Profit		 51 48 53 45 56 59 65 71 69 70 84
Total Revenue		 140 128 133 124 150 152 168 179 176 178 211
Operating Revenue		 140 128 133 124 150 152 168 179 176 178 211
Total Cost of Revenue		 89 80 80 79 94 93 103 108 107 109 127
Operating Cost of Revenue		 89 80 80 79 94 93 103 108 107 109 127
Total Operating Expenses		 35 30 31 33 44 34 35 41 44 46 46
Selling, General & Admin Expense		 25 25 24 27 35 30 31 33 33 37 36
Research & Development Expense		 5.97 5.22 5.99 5.44 6.93 7.22 8.10 7.55 7.99 8.51 9.01
Other Operating Expenses / (Income)		 - - - 0.00 - 0.00 0.00 1.86 - 0.62 0.23
Restructuring Charge		 3.81 0.07 0.64 1.09 1.67 -2.93 0.28 0.22 1.76 0.08 0.02
Other Special Charges / (Income)		 - - 0.00 0.00 - - -4.08 -1.63 - - 0.00
Total Other Income / (Expense), net		 -2.97 2.50 0.26 -0.26 -4.99 -1.24 3.84 -2.33 -16 -5.87 -0.66
Interest Expense		 0.45 0.43 0.42 0.41 2.82 4.15 3.99 3.63 2.98 2.53 1.80
Interest & Investment Income		 1.59 1.12 1.15 1.48 1.01 0.28 0.26 0.24 -13 0.15 1.28
Other Income / (Expense), net		 -4.11 1.82 -0.47 -1.33 -3.19 2.64 7.57 1.06 -0.41 -3.49 -0.14
Income Tax Expense		 1.46 4.48 4.08 3.11 0.95 5.46 6.91 5.45 3.12 2.81 3.79
Net Income / (Loss) Attributable to Noncontrolling Interest		 - 0.00 0.00 0.00 - 0.45 -0.07 0.62 10 3.61 8.50
Basic Earnings per Share		 $1.84 $2.45 $2.93 $1.26 ($0.26) $2.79 $4.17 $3.45 ($0.85) $1.77 $3.69
Weighted Average Basic Shares Outstanding		 12.78M 12.75M 12.62M 12.55M 12.62M 12.57M 12.67M 12.66M 12.64K 12.67M 13.60M
Diluted Earnings per Share		 - - - - - $1.43 $4.17 - - $0.91 $3.68
Weighted Average Diluted Shares Outstanding		 12.76M 12.62M 12.55M 12.55M 12.54M 10.46M 12.67M 12.66M 10.55K 10.55M 13.61M
Weighted Average Basic & Diluted Shares Outstanding		 12.76M 12.62M 12.55M 12.55M 12.54M 12.67M 12.66M 12.66M 12.66M 12.72M 14.44M

Annual Cash Flow Statements for Bel Fuse

This table details how cash moves in and out of Bel Fuse's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 7.90 -12 -4.06 -15 18 13 -23 8.51 19 -21 -10
Net Cash From Operating Activities		 66 39 24 10 24 46 4.63 40 108 74 81
Net Cash From Continuing Operating Activities		 66 39 24 49 24 46 4.63 40 108 74 81
Net Income / (Loss) Continuing Operations		 19 -65 -12 0.00 -8.74 13 25 53 74 49 74
Consolidated Net Income / (Loss)		 19 -65 -12 0.00 -8.74 13 25 53 74 49 74
Depreciation Expense		 23 22 21 0.00 16 16 17 15 13 16 27
Amortization Expense		 1.43 1.80 2.26 -0.53 0.47 0.65 1.30 0.03 0.03 0.15 1.55
Non-Cash Adjustments To Reconcile Net Income		 1.36 104 7.81 -5.83 8.48 6.23 -17 -2.89 6.16 15 -1.04
Changes in Operating Assets and Liabilities, net		 21 -24 5.23 16 7.78 10 -21 -24 15 -7.08 -21
Net Cash From Investing Activities		 -9.81 -2.38 -6.35 -14 -33 -1.52 -19 -7.00 -54 -298 -3.25
Net Cash From Continuing Investing Activities		 -9.81 -2.38 -6.35 5.82 -33 -1.52 -19 -7.00 -54 -298 -3.25
Purchase of Property, Plant & Equipment		 -9.89 -8.22 -6.43 0.00 -9.89 -5.48 -9.40 -8.83 -12 -14 -12
Acquisitions		 - - 0.00 0.00 -29 0.00 -17 0.00 -10 -320 0.00
Purchase of Investments		 - - 0.00 - - - - 0.00 -60 -131 0.00
Sale of Property, Plant & Equipment		 0.08 5.84 0.08 0.08 5.81 3.96 7.33 1.83 6.04 0.88 7.80
Divestitures		 - - - 2.18 - - - 0.00 5.06 0.00 0.00
Sale and/or Maturity of Investments		 2.82 2.16 0.00 2.70 - - - 0.00 20 168 0.95
Other Investing Activities, net		 -2.82 -2.16 0.00 0.87 - - - 0.00 -2.15 -0.79 0.00
Net Cash From Financing Activities		 -49 -47 -24 -12 25 -32 -8.40 -21 -39 206 -94
Net Cash From Continuing Financing Activities		 -49 -47 -24 9.28 25 -32 -8.40 -21 -39 206 -94
Repayment of Debt		 -58 -44 -152 -17 -15 -29 -120 -18 -40 -17 -99
Repurchase of Common Equity		 - - - 0.00 -0.45 - 0.00 -0.35 -0.11 -16 0.00
Payment of Dividends		 -3.24 -3.25 -3.28 -3.30 -3.35 -3.36 -3.38 -3.41 -3.49 -3.45 -3.47
Issuance of Debt		 13 0.00 131 7.50 44 0.00 115 0.00 5.00 243 8.00
Other Net Changes in Cash		 - - - 0.46 1.79 0.20 -0.54 - 2.89 - 6.33
Cash Interest Paid		 6.15 4.84 4.35 4.78 4.85 4.13 2.14 3.37 4.73 5.80 15
Cash Income Taxes Paid		 0.58 2.46 0.76 7.48 4.69 2.65 2.87 15 25 23 24

Quarterly Cash Flow Statements for Bel Fuse

This table details how cash moves in and out of Bel Fuse's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -11 -18 14 49 -66 -2.33 -6.64 -1.54 0.06 1.65 247
Net Cash From Operating Activities		 27 6.15 32 27 8.34 8.15 21 22 30 14 18
Net Cash From Continuing Operating Activities		 27 6.15 32 27 8.34 8.15 21 22 30 14 18
Net Income / (Loss) Continuing Operations		 12 16 19 8.08 6.43 18 27 23 6.44 15 34
Consolidated Net Income / (Loss)		 12 16 19 8.08 6.43 18 27 23 6.44 15 34
Depreciation Expense		 3.35 3.68 3.44 3.64 5.70 6.68 6.60 6.65 6.66 6.62 6.91
Amortization Expense		 - 0.03 0.00 - 0.12 0.30 0.40 0.43 0.42 0.33 0.76
Non-Cash Adjustments To Reconcile Net Income		 7.02 3.73 5.23 3.21 3.17 -3.60 -10 -2.65 16 7.46 2.07
Changes in Operating Assets and Liabilities, net		 4.52 -17 4.72 12 -7.08 -14 -2.78 -4.81 0.54 -16 -26
Net Cash From Investing Activities		 -42 -16 -10 25 -297 -3.07 1.39 0.83 -2.40 -18 -2.24
Net Cash From Continuing Investing Activities		 -42 -16 -10 25 -297 -3.07 1.39 0.83 -2.40 -18 -2.24
Purchase of Property, Plant & Equipment		 -2.47 -2.93 -1.35 -3.63 -6.20 -2.79 -3.93 -1.86 -3.42 -2.64 -2.25
Sale of Property, Plant & Equipment		 0.63 0.19 0.04 0.01 0.65 0.06 4.81 2.90 0.04 0.00 0.00
Net Cash From Financing Activities		 -1.11 -7.12 -8.73 -3.02 225 -8.33 -32 -26 -28 6.16 230
Net Cash From Continuing Financing Activities		 -1.11 -7.12 -8.73 -3.02 225 -8.33 -32 -26 -28 6.16 230
Repayment of Debt		 - 0.00 - -0.33 -16 -13 -31 -28 -28 -13 -205
Payment of Dividends		 -1.00 -0.84 -0.84 -0.81 -0.97 -0.83 -0.83 -0.83 -0.97 -0.84 -3.51
Other Net Changes in Cash		 5.79 - - - - 0.92 - - 1.36 -0.48 0.86
Cash Interest Paid		 0.99 0.98 1.00 1.03 2.79 4.21 3.98 3.64 2.96 2.55 1.27
Cash Income Taxes Paid		 6.91 0.98 7.30 7.28 7.40 2.28 9.15 8.00 4.31 5.69 4.74

Annual Balance Sheets for Bel Fuse

This table presents Bel Fuse's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 579 427 431 - 469 454 512 560 572 950 935
Total Current Assets		 280 255 266 291 283 280 329 381 381 374 385
Cash & Equivalents		 85 73 69 54 72 85 62 70 89 68 58
Accounts Receivable		 86 74 79 108 92 86 115 126 97 116 131
Inventories, net		 99 99 108 120 107 100 139 172 137 161 167
Other Current Assets		 11 8.74 10 8.79 11 9.64 12 13 21 27 28
Plant, Property, & Equipment, net		 58 49 43 44 42 35 38 37 37 48 48
Total Noncurrent Assets		 240 123 122 - 144 139 145 142 154 528 502
Goodwill		 122 18 20 - 22 24 27 25 27 208 215
Intangible Assets		 88 75 69 63 72 66 61 54 49 232 218
Noncurrent Deferred & Refundable Income Taxes		 3.44 3.41 4.16 0.50 3.73 5.71 4.46 7.28 12 16 13
Other Noncurrent Operating Assets		 28 26 28 26 46 44 53 56 54 60 56
Total Liabilities & Shareholders' Equity		 579 427 431 444 469 454 512 560 572 950 935
Total Liabilities		 345 268 273 267 301 268 303 298 231 509 417
Total Current Liabilities		 122 92 87 106 90 88 112 136 111 128 127
Accounts Payable		 50 47 48 56 44 40 66 65 40 49 53
Accrued Expenses		 38 32 31 32 27 28 34 51 55 53 50
Other Current Liabilities		 8.96 2.15 6.20 15 14 14 12 21 16 26 25
Total Noncurrent Liabilities		 224 176 186 - 211 181 191 162 120 381 289
Long-Term Debt		 159 130 120 112 138 110 113 95 60 292 198
Noncurrent Deferred & Payable Income Tax Liabilities		 49 29 30 29 29 27 30 26 21 47 47
Noncurrent Employee Benefit Liabilities		 16 17 19 19 22 25 24 19 20 18 19
Other Noncurrent Operating Liabilities		 0.57 0.31 17 1.92 22 18 25 22 19 23 25
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - - - 0.00 81 93
Total Equity & Noncontrolling Interests		 233 158 158 - 168 186 209 262 341 361 426
Total Preferred & Common Equity		 233 158 158 - 168 186 209 262 341 361 426
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 233 158 158 - 168 186 209 262 341 361 426
Common Stock		 26 28 30 31 35 37 40 42 46 33 40
Retained Earnings		 229 161 148 169 157 166 188 237 308 345 403
Accumulated Other Comprehensive Income / (Loss)		 -22 -31 -20 -25 -24 -18 -19 -17 -12 -17 -17

Quarterly Balance Sheets for Bel Fuse

This table presents Bel Fuse's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 575 552 559 555 568 584 940 951 953 952 1,264
Total Current Assets		 383 354 363 364 376 388 368 379 388 397 699
Cash & Equivalents		 78 65 100 71 85 134 66 59 58 59 306
Accounts Receivable		 124 120 94 93 87 81 109 128 135 129 166
Inventories, net		 166 157 140 130 128 125 165 165 166 181 200
Other Current Assets		 15 12 29 20 17 18 27 27 29 27 26
Plant, Property, & Equipment, net		 38 38 38 36 35 37 47 49 48 48 47
Total Noncurrent Assets		 153 160 158 152 157 160 525 523 518 506 518
Goodwill		 25 26 25 25 25 27 208 211 215 225 218
Intangible Assets		 53 52 51 48 47 46 228 225 221 214 218
Noncurrent Deferred & Refundable Income Taxes		 8.36 10 12 13 15 17 17 16 13 14 15
Other Noncurrent Operating Assets		 55 58 58 56 57 58 58 57 55 53 68
Total Liabilities & Shareholders' Equity		 575 552 559 555 568 584 940 951 953 952 1,264
Total Liabilities		 296 248 238 209 211 217 483 465 444 416 252
Total Current Liabilities		 130 127 118 87 90 97 111 124 127 125 156
Accounts Payable		 60 52 44 33 36 37 46 54 54 64 88
Accrued Expenses		 48 56 55 37 39 42 38 41 46 43 45
Other Current Liabilities		 22 19 18 17 14 18 27 30 26 18 23
Total Noncurrent Liabilities		 167 121 120 122 121 120 371 341 317 291 96
Long-Term Debt		 100 60 60 60 60 60 285 253 226 205 0.00
Noncurrent Deferred & Payable Income Tax Liabilities		 26 21 21 21 20 20 45 46 48 46 44
Noncurrent Employee Benefit Liabilities		 19 19 19 20 20 20 18 19 19 19 19
Other Noncurrent Operating Liabilities		 22 22 20 21 22 20 22 23 24 22 33
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - 81 81 81 97 103
Total Equity & Noncontrolling Interests		 278 304 321 347 356 367 377 405 428 439 909
Total Preferred & Common Equity		 278 304 321 347 356 367 377 405 428 439 909
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 278 304 321 347 356 367 377 405 428 439 909
Common Stock		 43 44 45 46 47 48 34 36 37 42 486
Retained Earnings		 251 278 296 323 340 348 362 388 409 414 438
Accumulated Other Comprehensive Income / (Loss)		 -15 -17 -19 -15 -17 -12 -19 -19 -19 -16 -15

Annual Metrics And Ratios for Bel Fuse

This table displays calculated financial ratios and metrics derived from Bel Fuse's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 16.43% -11.80% -1.71% -69.58% 229.32% -5.41% 16.69% 20.38% -2.20% -16.41% 26.30%
EBITDA Growth		 53.57% -199.79% 174.48% -27.95% -46.89% 125.15% 44.39% 57.36% 26.75% -20.51% 92.94%
EBIT Growth		 112.29% -367.52% 121.49% 75.94% -106.41% 1,010.57% 82.85% 101.69% 35.64% -27.61% 99.33%
NOPAT Growth		 79.86% -351.02% 59.95% 210.17% -104.72% 1,862.71% 44.26% 104.72% 34.16% -34.37% 69.12%
Net Income Growth		 123.14% -437.73% 81.65% 100.00% 0.00% 246.35% 93.99% 112.28% 40.13% -33.37% 50.66%
EPS Growth		 0.00% 0.00% 0.00% 0.00% -182.08% 242.25% 0.00% 0.00% 0.00% 0.00% 49.39%
Operating Cash Flow Growth		 204.42% -41.32% -37.52% -58.14% 142.15% 88.58% -89.95% 769.11% 169.14% -31.64% 8.84%
Free Cash Flow Firm Growth		 136.69% -25.43% -112.51% 377.32% -231.44% 280.75% -134.32% 308.29% 233.14% -434.97% 124.47%
Invested Capital Growth		 -12.67% -31.77% -6.62% 2.68% 10.38% -9.62% 19.89% 10.63% -8.26% 148.78% 0.49%
Revenue Q/Q Growth		 -2.31% -3.23% 0.29% -71.54% 305.75% 0.22% 6.05% 3.49% -4.36% 1.88% 4.02%
EBITDA Q/Q Growth		 1.41% 4.31% -15.20% -33.94% 76.91% 40.63% 12.21% 9.46% -5.76% -2.99% 13.16%
EBIT Q/Q Growth		 8.65% 3.56% -31.58% 28.17% -117.50% 140.59% 20.37% 14.31% -6.70% -7.37% 15.31%
NOPAT Q/Q Growth		 4.73% 3.56% -227.88% 498.68% -143.22% 43.38% 18.44% 10.21% 0.01% -7.25% 11.14%
Net Income Q/Q Growth		 6.20% 0.74% -196.99% 100.00% 54.17% 23.41% 19.51% 35.87% -2.64% -10.23% 0.01%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 359.09% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 38.76% -19.31% -7.26% -28.35% -1.63% 14.44% -51.88% 32.36% 11.00% -20.06% 35.74%
Free Cash Flow Firm Q/Q Growth		 40.87% -8.06% -130.21% 750.99% -229.24% 383.70% -294.21% 7.72% 24.17% -567.67% 124.79%
Invested Capital Q/Q Growth		 -6.21% -6.39% -10.85% -7.23% 9.77% -2.96% 3.49% 4.34% -2.89% 158.42% -1.39%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 19.19% 19.98% 20.82% -173.48% 22.33% 25.71% 24.73% 28.04% 33.74% 37.84% 39.15%
EBITDA Margin		 9.35% -10.58% 8.02% 18.99% 3.06% 7.29% 9.02% 11.79% 15.29% 14.54% 22.21%
Operating Margin		 5.04% -15.30% 3.54% 18.02% -0.32% 4.01% 5.75% 9.96% 13.75% 12.02% 16.43%
EBIT Margin		 5.04% -15.30% 3.35% 19.35% -0.38% 3.62% 5.68% 9.52% 13.20% 11.43% 18.04%
Profit (Net Income) Margin		 3.39% -12.96% -2.42% 0.00% -1.78% 2.75% 4.57% 8.05% 11.54% 9.20% 10.97%
Tax Burden Percent		 74.60% 78.54% -123.37% 0.00% 119.73% 105.43% 90.83% 89.21% 88.63% 79.59% 77.97%
Interest Burden Percent		 89.97% 107.89% 58.64% 81.62% 393.85% 71.89% 88.53% 94.86% 98.63% 101.11% 78.00%
Effective Tax Rate		 25.40% 0.00% 223.37% 12.31% 0.00% -5.43% 9.17% 10.79% 11.37% 20.41% 22.03%
Return on Invested Capital (ROIC)		 6.00% -19.20% -9.80% 11.04% -0.49% 8.63% 11.93% 21.27% 28.33% 11.14% 13.18%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.31% -32.76% 5.96% -6.45% -5.78% -4.86% 3.16% 6.88% 44.13% 8.25% 6.15%
Return on Net Nonoperating Assets (RNNOA)		 2.40% -13.92% 2.28% -11.04% -9.92% -1.40% 0.65% 1.10% -3.84% 1.44% 2.27%
Return on Equity (ROE)		 8.39% -33.12% -7.52% 0.00% -10.41% 7.23% 12.58% 22.37% 24.49% 12.59% 15.44%
Cash Return on Invested Capital (CROIC)		 19.53% 18.57% -2.96% 8.39% -10.35% 18.73% -6.16% 11.17% 36.95% -74.17% 12.69%
Operating Return on Assets (OROA)		 4.71% -15.22% 3.83% 13.42% -0.79% 3.66% 6.39% 11.61% 14.92% 8.04% 12.93%
Return on Assets (ROA)		 3.16% -12.90% -2.77% 0.00% -3.73% 2.77% 5.14% 9.83% 13.04% 6.47% 7.86%
Return on Common Equity (ROCE)		 8.39% -33.12% -7.52% 0.00% -10.41% 7.23% 12.58% 22.37% 24.49% 11.29% 12.65%
Return on Equity Simple (ROE_SIMPLE)		 8.23% -40.92% -7.53% 0.00% -5.20% 6.89% 11.89% 20.08% 21.68% 13.64% 0.00%
Net Operating Profit after Tax (NOPAT)		 21 -54 -21 24 -1.12 20 28 58 78 51 87
NOPAT Margin		 3.76% -10.71% -4.36% 15.80% -0.23% 4.23% 5.22% 8.88% 12.19% 9.57% 12.81%
Net Nonoperating Expense Percent (NNEP)		 1.68% 13.56% -15.77% 17.49% 5.29% 13.49% 8.77% 14.39% -15.80% 2.90% 7.03%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 16.26% 19.47% 7.84% 13.89%
Cost of Revenue to Revenue		 80.81% 80.02% 79.18% 273.48% 77.67% 74.29% 75.27% 71.96% 66.26% 62.16% 60.85%
SG&A Expenses to Revenue		 13.75% 14.20% 17.22% 55.24% 15.72% 16.90% 15.94% 14.11% 15.49% 20.68% 18.63%
R&D to Revenue		 0.00% 0.00% 0.00% 19.72% 5.47% 5.07% 4.03% 3.09% 3.51% 4.41% 4.57%
Operating Expenses to Revenue		 14.15% 35.27% 17.28% 75.11% 22.66% 21.70% 18.97% 18.08% 19.99% 25.82% 22.71%
Earnings before Interest and Taxes (EBIT)		 29 -77 16 29 -1.85 17 31 62 84 61 122
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 53 -53 39 28 15 34 49 77 98 78 150
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.67 1.72 1.52 0.89 1.12 0.85 0.87 1.52 2.41 3.13 4.52
Price to Tangible Book Value (P/TBV)		 6.56 4.16 3.50 1.38 2.54 1.65 1.51 2.17 3.11 0.00 0.00
Price to Revenue (P/Rev)		 0.27 0.55 0.49 1.04 0.38 0.34 0.34 0.61 1.29 2.11 2.84
Price to Earnings (P/E)		 8.08 0.00 0.00 0.00 0.00 12.37 7.35 7.55 11.14 27.57 31.22
Dividend Yield		 1.84% 1.05% 1.20% 1.89% 1.96% 1.87% 1.63% 0.78% 0.39% 0.27% 0.16%
Earnings Yield		 12.38% 0.00% 0.00% 0.00% 0.00% 8.08% 13.61% 13.25% 8.98% 3.63% 3.20%
Enterprise Value to Invested Capital (EV/IC)		 0.76 1.51 1.39 1.00 1.08 0.87 0.90 1.47 2.83 2.17 3.27
Enterprise Value to Revenue (EV/Rev)		 0.45 0.68 0.60 1.44 0.53 0.41 0.43 0.65 1.16 2.66 3.19
Enterprise Value to EBITDA (EV/EBITDA)		 4.78 0.00 7.43 7.60 17.17 5.56 4.75 5.48 7.62 18.32 14.36
Enterprise Value to EBIT (EV/EBIT)		 8.87 0.00 17.82 7.46 0.00 11.19 7.55 6.79 8.82 23.29 17.68
Enterprise Value to NOPAT (EV/NOPAT)		 11.89 0.00 0.00 9.14 0.00 9.60 8.21 7.27 9.56 27.83 24.89
Enterprise Value to Operating Cash Flow (EV/OCF)		 3.86 8.83 12.15 21.38 10.59 4.10 50.33 10.49 6.88 19.23 26.72
Enterprise Value to Free Cash Flow (EV/FCFF)		 3.65 6.58 0.00 12.01 0.00 4.42 0.00 13.84 7.33 0.00 25.84
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.79 0.89 0.78 0.00 0.86 0.62 0.54 0.36 0.18 0.66 0.38
Long-Term Debt to Equity		 0.68 0.82 0.76 0.00 0.82 0.59 0.54 0.36 0.18 0.66 0.38
Financial Leverage		 0.56 0.42 0.38 1.71 1.72 0.29 0.21 0.16 -0.09 0.18 0.37
Leverage Ratio		 2.65 2.57 2.71 2.73 2.79 2.61 2.45 2.28 1.88 1.95 1.96
Compound Leverage Factor		 2.39 2.77 1.59 2.23 10.99 1.87 2.17 2.16 1.85 1.97 1.53
Debt to Total Capital		 44.05% 47.13% 43.72% 100.00% 46.10% 38.35% 35.02% 26.58% 14.98% 39.87% 27.58%
Short-Term Debt to Total Capital		 5.95% 3.80% 0.94% 2.20% 1.76% 1.75% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 38.11% 43.33% 42.78% 97.80% 44.33% 36.60% 35.02% 26.58% 14.98% 39.87% 27.58%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.98% 13.01%
Common Equity to Total Capital		 55.95% 52.87% 56.28% 0.00% 53.90% 61.65% 64.98% 73.42% 85.02% 49.15% 59.41%
Debt to EBITDA		 3.46 -2.67 3.11 4.02 9.53 3.40 2.29 1.23 0.61 3.76 1.32
Net Debt to EBITDA		 1.86 -1.28 1.35 2.12 4.73 0.90 1.03 0.32 -0.79 2.75 0.93
Long-Term Debt to EBITDA		 2.99 -2.45 3.05 3.93 9.16 3.25 2.29 1.23 0.61 3.76 1.32
Debt to NOPAT		 8.60 -2.64 -5.72 4.83 -128.71 5.87 3.96 1.63 0.77 5.72 2.28
Net Debt to NOPAT		 4.62 -1.27 -2.49 2.55 -63.96 1.56 1.79 0.43 -0.99 4.18 1.61
Long-Term Debt to NOPAT		 7.44 -2.42 -5.60 4.73 -123.79 5.60 3.96 1.63 0.77 5.72 2.28
Altman Z-Score		 2.30 2.18 2.77 0.00 2.37 2.53 2.64 3.45 5.06 2.93 4.85
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.31% 18.10%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.30 2.77 3.05 2.74 3.14 3.20 2.94 2.80 3.45 2.92 3.02
Quick Ratio		 1.41 1.60 1.70 1.52 1.83 1.95 1.58 1.44 2.02 1.45 1.48
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 69 52 -6.48 18 -24 43 -15 31 102 -341 83
Operating Cash Flow to CapEx		 670.36% 1,619.25% 379.90% 0.00% 598.68% 3,043.43% 224.09% 575.18% 1,779.13% 560.03% 1,920.25%
Free Cash Flow to Firm to Interest Expense		 9.15 7.78 -0.95 3.38 -4.34 9.00 -4.14 9.03 35.68 -83.54 5.65
Operating Cash Flow to Interest Expense		 8.67 5.79 3.55 1.90 4.49 9.72 1.31 11.91 38.02 18.16 5.46
Operating Cash Flow Less CapEx to Interest Expense		 7.38 5.44 2.61 1.91 3.74 9.40 0.72 9.84 35.88 14.92 5.18
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.93 1.00 1.15 0.69 2.10 1.01 1.13 1.22 1.13 0.70 0.72
Accounts Receivable Turnover		 6.10 6.23 6.42 1.60 4.92 5.24 5.41 5.43 5.75 5.01 5.46
Inventory Turnover		 4.32 4.06 3.77 3.59 3.36 3.34 3.42 3.02 2.74 2.23 2.50
Fixed Asset Turnover		 8.94 9.40 10.66 3.42 11.47 12.19 14.95 17.44 17.44 12.67 14.03
Accounts Payable Turnover		 8.20 8.25 8.18 7.86 7.62 8.24 7.74 7.21 8.07 7.42 8.05
Days Sales Outstanding (DSO)		 59.82 58.63 56.88 227.69 74.18 69.71 67.47 67.21 63.45 72.79 66.90
Days Inventory Outstanding (DIO)		 84.49 90.00 96.86 101.66 108.49 109.39 106.85 120.89 133.01 163.55 145.92
Days Payable Outstanding (DPO)		 44.49 44.24 44.62 46.47 47.88 44.27 47.17 50.61 45.21 49.20 45.36
Cash Conversion Cycle (CCC)		 99.81 104.39 109.11 282.88 134.79 134.83 127.14 137.49 151.25 187.13 167.45
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 332 226 211 217 239 216 259 287 263 655 658
Invested Capital Turnover		 1.59 1.79 2.25 0.70 2.16 2.04 2.28 2.39 2.32 1.16 1.03
Increase / (Decrease) in Invested Capital		 -48 -105 -15 5.66 23 -23 43 28 -24 392 3.19
Enterprise Value (EV)		 254 341 293 216 259 189 233 422 745 1,424 2,154
Market Capitalization		 155 273 240 156 188 158 182 398 822 1,129 1,921
Book Value per Share		 $19.61 $13.28 $13.13 $0.00 $13.69 $15.03 $16.83 $21.02 $26.66 $28.74 $33.61
Tangible Book Value per Share		 $1.99 $5.50 $5.69 $0.00 $6.00 $7.77 $9.76 $14.67 $20.71 ($6.33) ($0.57)
Total Capital		 417 300 281 114 312 301 321 357 401 734 716
Total Debt		 184 141 123 114 144 116 113 95 60 292 198
Total Long-Term Debt		 159 130 120 112 138 110 113 95 60 292 198
Net Debt		 99 68 53 60 71 31 51 25 -77 214 140
Capital Expenditures (CapEx)		 9.81 2.38 6.35 -0.08 4.08 1.52 2.07 7.00 6.09 13 4.20
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 98 101 112 133 126 113 155 175 144 176 200
Debt-free Net Working Capital (DFNWC)		 183 175 181 187 198 198 217 245 271 245 257
Net Working Capital (NWC)		 159 163 179 184 193 193 217 245 271 245 257
Net Nonoperating Expense (NNE)		 2.14 11 -9.55 24 7.63 6.89 3.57 5.43 4.14 1.98 12
Net Nonoperating Obligations (NNO)		 99 68 53 217 71 31 51 25 -77 214 140
Total Depreciation and Amortization (D&A)		 24 24 23 -0.53 17 17 18 15 13 17 28
Debt-free, Cash-free Net Working Capital to Revenue		 17.34% 20.21% 22.80% 89.00% 25.62% 24.27% 28.56% 26.72% 22.50% 32.96% 29.54%
Debt-free Net Working Capital to Revenue		 32.34% 34.89% 36.91% 125.05% 40.30% 42.50% 39.93% 37.46% 42.34% 45.90% 38.10%
Net Working Capital to Revenue		 27.97% 32.61% 36.37% 123.38% 39.19% 41.37% 39.93% 37.46% 42.34% 45.90% 38.10%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.71) $2.02 $3.92 $8.25 $11.35 $6.38 $9.56
Adjusted Weighted Average Basic Shares Outstanding		 11.88M 12.03M 12.03M 12.26M 12.27M 12.35M 12.52M 12.54M 12.78M 12.62M 12.64K
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.71) $2.02 $3.92 $0.00 $0.00 $0.00 $4.90
Adjusted Weighted Average Diluted Shares Outstanding		 11.88M 12.03M 12.03M 12.26M 12.27M 12.35M 12.52M 12.78M 12.76M 12.54M 10.55K
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($0.71) $2.02 $3.92 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 11.88M 12.03M 12.03M 12.26M 10.12M 12.33M 12.40M 12.78M 12.76M 12.54M 12.66M
Normalized Net Operating Profit after Tax (NOPAT)		 23 20 12 24 3.94 12 24 63 84 54 82
Normalized NOPAT Margin		 4.06% 4.05% 2.52% 15.93% 0.80% 2.62% 4.33% 9.66% 13.06% 10.14% 12.08%
Pre Tax Income Margin		 4.54% -16.51% 1.96% 15.79% -1.48% 2.61% 5.03% 9.03% 13.02% 11.56% 14.07%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.77 -11.48 2.42 5.44 -0.34 3.56 8.72 18.43 29.63 14.99 8.26
NOPAT to Interest Expense		 2.81 -8.04 -3.15 4.44 -0.20 4.15 8.02 17.20 27.36 12.55 5.87
EBIT Less CapEx to Interest Expense		 2.48 -11.84 1.48 5.46 -1.09 3.24 8.13 16.35 27.50 11.75 7.98
NOPAT Less CapEx to Interest Expense		 1.52 -8.40 -4.09 4.46 -0.95 3.83 7.43 15.13 25.22 9.31 5.58
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 16.87% -5.01% -27.58% 0.00% -38.34% 26.28% 13.61% 6.48% 4.73% 7.02% 4.68%
Augmented Payout Ratio		 16.87% -5.01% -27.58% 0.00% -43.46% 26.28% 13.61% 7.14% 4.87% 39.65% 4.68%

Quarterly Metrics And Ratios for Bel Fuse

This table displays calculated financial ratios and metrics derived from Bel Fuse's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 12,656,313.00 12,722,707.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 12,656,313.00 12,722,707.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.90 2.00
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -17.25% -25.68% -21.08% -22.08% 7.03% 18.85% 26.35% 44.76% 17.40% 17.24% 25.18%
EBITDA Growth		 -26.95% 2.19% -18.86% -50.28% -4.44% 48.16% 73.59% 179.68% 116.18% -21.70% 3.44%
EBIT Growth		 -32.27% 0.30% -21.46% -58.31% -25.65% 40.62% 68.96% 210.17% 176.13% -27.08% 2.28%
NOPAT Growth		 0.27% -8.83% -33.22% -58.78% -26.60% 38.42% 27.69% 195.57% 61.10% 3.40% 45.61%
Net Income Growth		 -14.27% 8.93% -32.29% -58.45% -46.56% 15.42% 42.47% 179.15% 0.14% -18.22% 26.81%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -36.36% -11.75%
Operating Cash Flow Growth		 66.32% -63.47% 35.15% -32.85% -69.01% 32.47% -35.65% -18.98% 254.36% 69.73% -13.43%
Free Cash Flow Firm Growth		 396.57% 1,825.54% 267.22% 8.12% -1,092.19% -1,281.07% -963.65% -1,602.70% 103.72% 101.43% 99.51%
Invested Capital Growth		 -8.26% -6.13% -8.93% -6.51% 148.78% 144.50% 154.85% 163.34% 0.49% 2.19% 5.45%
Revenue Q/Q Growth		 -11.77% -8.51% 3.99% -7.18% 21.21% 1.59% 10.55% 6.35% -1.70% 1.45% 18.04%
EBITDA Q/Q Growth		 -43.24% 48.87% 9.46% -46.24% 9.09% 130.80% 28.24% -13.38% -15.68% -16.41% 69.43%
EBIT Q/Q Growth		 -49.11% 59.20% 12.61% -54.31% -9.24% 201.10% 35.30% -16.12% -19.20% -20.48% 89.78%
NOPAT Q/Q Growth		 -26.79% -5.15% 33.51% -55.54% 30.35% 78.87% 23.16% 2.92% -28.95% 14.80% 73.44%
Net Income Q/Q Growth		 -38.11% 31.89% 18.47% -57.04% -20.40% 184.86% 46.23% -15.82% -71.44% 132.63% 126.74%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 304.40%
Operating Cash Flow Q/Q Growth		 -33.96% -77.16% 423.48% -14.97% -69.52% -2.36% 154.29% 7.06% 33.31% -53.23% 29.69%
Free Cash Flow Firm Q/Q Growth		 60.12% -17.45% 39.87% -41.52% -1,569.33% 1.73% -2.28% -1.75% 103.64% -62.15% -135.15%
Invested Capital Q/Q Growth		 -2.89% 3.46% -3.59% -3.48% 158.42% 1.68% 0.48% -0.26% -1.39% 3.40% 3.69%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 36.56% 37.53% 40.09% 36.14% 37.51% 38.64% 38.67% 39.75% 39.43% 38.99% 39.85%
EBITDA Margin		 11.22% 18.25% 19.21% 11.13% 10.02% 22.75% 26.40% 21.50% 18.44% 15.20% 21.81%
Operating Margin		 11.76% 13.94% 16.98% 9.26% 8.26% 16.44% 17.74% 16.95% 14.65% 13.26% 18.24%
EBIT Margin		 8.83% 15.36% 16.63% 8.19% 6.13% 18.17% 22.24% 17.54% 14.42% 11.30% 18.17%
Profit (Net Income) Margin		 8.60% 12.39% 14.12% 6.54% 4.29% 12.04% 15.92% 12.60% 3.66% 8.39% 16.13%
Tax Burden Percent		 89.16% 78.00% 82.18% 72.22% 87.10% 77.03% 79.51% 80.54% 67.35% 84.22% 89.98%
Interest Burden Percent		 109.25% 103.46% 103.30% 110.53% 80.39% 85.98% 90.04% 89.20% 37.70% 88.20% 98.64%
Effective Tax Rate		 10.84% 22.00% 17.82% 27.78% 12.90% 22.97% 20.49% 19.46% 32.65% 15.78% 10.02%
Return on Invested Capital (ROIC)		 24.38% 23.01% 28.37% 13.38% 8.37% 15.08% 17.98% 19.25% 10.15% 11.63% 17.75%
ROIC Less NNEP Spread (ROIC-NNEP)		 34.47% 16.73% 27.98% 13.61% 2.02% 13.66% 24.77% 10.86% 3.97% 8.83% 18.72%
Return on Net Nonoperating Assets (RNNOA)		 -3.00% -1.66% -4.65% -3.24% 0.35% 2.28% 2.65% 0.56% 1.46% 3.14% -1.53%
Return on Equity (ROE)		 21.38% 21.35% 23.72% 10.14% 8.73% 17.35% 20.63% 19.80% 11.61% 14.78% 16.22%
Cash Return on Invested Capital (CROIC)		 36.95% 33.42% 33.64% 27.76% -74.17% -71.84% -74.04% -73.01% 12.69% 10.77% 9.09%
Operating Return on Assets (OROA)		 9.98% 16.19% 16.63% 7.52% 4.31% 13.58% 17.40% 14.82% 10.33% 8.38% 12.21%
Return on Assets (ROA)		 9.72% 13.06% 14.12% 6.00% 3.02% 8.99% 12.46% 10.65% 2.62% 6.23% 10.84%
Return on Common Equity (ROCE)		 21.38% 21.35% 23.72% 10.14% 7.83% 15.61% 18.64% 17.97% 9.51% 12.13% 14.24%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 21.67% 18.56% 14.92% 0.00% 13.70% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 15 14 19 8.27 11 19 24 24 17 20 35
NOPAT Margin		 10.49% 10.87% 13.96% 6.69% 7.19% 12.66% 14.11% 13.65% 9.87% 11.17% 16.41%
Net Nonoperating Expense Percent (NNEP)		 -10.09% 6.28% 0.39% -0.23% 6.35% 1.42% -6.79% 8.39% 6.17% 2.80% -0.97%
Return On Investment Capital (ROIC_SIMPLE)		 3.67% 3.42% - - 1.65% 2.91% 3.61% 3.74% 2.79% 3.10% 3.80%
Cost of Revenue to Revenue		 63.44% 62.47% 59.91% 63.86% 62.49% 61.36% 61.33% 60.25% 60.57% 61.01% 60.15%
SG&A Expenses to Revenue		 17.82% 19.47% 18.12% 21.60% 23.24% 19.38% 18.37% 18.33% 18.53% 20.58% 17.22%
R&D to Revenue		 4.26% 4.07% 4.50% 4.40% 4.63% 4.74% 4.82% 4.22% 4.54% 4.77% 4.27%
Operating Expenses to Revenue		 24.80% 23.60% 23.10% 26.88% 29.25% 22.20% 20.93% 22.80% 24.78% 25.73% 21.62%
Earnings before Interest and Taxes (EBIT)		 12 20 22 10 9.19 28 37 31 25 20 38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 16 23 26 14 15 35 44 38 32 27 46
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.41 2.60 2.86 3.39 3.13 2.40 2.81 3.44 4.52 5.19 4.07
Price to Tangible Book Value (P/TBV)		 3.11 3.29 3.59 4.23 0.00 0.00 0.00 0.00 0.00 0.00 7.82
Price to Revenue (P/Rev)		 1.29 1.51 1.82 2.38 2.11 1.62 1.91 2.27 2.84 3.25 4.98
Price to Earnings (P/E)		 11.14 11.98 15.42 22.76 27.57 21.01 22.30 22.59 31.22 41.42 69.03
Dividend Yield		 0.39% 0.34% 0.30% 0.24% 0.27% 0.33% 0.27% 0.21% 0.16% 0.13% 0.08%
Earnings Yield		 8.98% 8.35% 6.48% 4.39% 3.63% 4.76% 4.49% 4.43% 3.20% 2.41% 1.45%
Enterprise Value to Invested Capital (EV/IC)		 2.83 3.04 3.53 4.47 2.17 1.79 2.09 2.56 3.27 3.70 4.96
Enterprise Value to Revenue (EV/Rev)		 1.16 1.39 1.65 2.16 2.66 2.13 2.36 2.64 3.19 3.59 4.70
Enterprise Value to EBITDA (EV/EBITDA)		 7.62 8.43 9.85 14.14 18.32 13.39 13.00 12.92 14.36 17.70 24.31
Enterprise Value to EBIT (EV/EBIT)		 8.82 9.80 11.56 17.17 23.29 17.25 16.61 16.21 17.68 22.05 30.38
Enterprise Value to NOPAT (EV/NOPAT)		 9.56 10.86 13.84 20.54 27.83 21.07 22.72 21.99 24.89 28.94 35.38
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.88 8.48 8.74 12.23 19.23 15.67 21.71 28.84 26.72 29.22 41.92
Enterprise Value to Free Cash Flow (EV/FCFF)		 7.33 8.81 10.00 15.56 0.00 0.00 0.00 0.00 25.84 34.75 56.02
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.18 0.17 0.17 0.16 0.66 0.62 0.52 0.44 0.38 0.38 0.00
Long-Term Debt to Equity		 0.18 0.17 0.17 0.16 0.66 0.62 0.52 0.44 0.38 0.38 0.00
Financial Leverage		 -0.09 -0.10 -0.17 -0.24 0.18 0.17 0.11 0.05 0.37 0.36 -0.08
Leverage Ratio		 1.88 1.81 1.69 1.66 1.95 1.86 1.80 1.75 1.96 1.90 1.48
Compound Leverage Factor		 2.05 1.87 1.75 1.84 1.56 1.60 1.62 1.56 0.74 1.68 1.46
Debt to Total Capital		 14.98% 14.75% 14.41% 14.04% 39.87% 38.36% 34.27% 30.78% 27.58% 27.63% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 14.98% 14.75% 14.41% 14.04% 39.87% 38.36% 34.27% 30.78% 27.58% 27.63% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 10.98% 10.91% 10.96% 11.05% 13.01% 13.07% 10.14%
Common Equity to Total Capital		 85.02% 85.25% 85.59% 85.96% 49.15% 50.73% 54.77% 58.17% 59.41% 59.30% 89.86%
Debt to EBITDA		 0.61 0.61 0.64 0.75 3.76 3.20 2.35 1.71 1.32 1.44 0.00
Net Debt to EBITDA		 -0.79 -0.73 -1.00 -1.42 2.75 2.34 1.70 1.20 0.93 1.02 0.00
Long-Term Debt to EBITDA		 0.61 0.61 0.64 0.75 3.76 3.20 2.35 1.71 1.32 1.44 0.00
Debt to NOPAT		 0.77 0.79 0.90 1.09 5.72 5.04 4.10 2.91 2.28 2.35 0.00
Net Debt to NOPAT		 -0.99 -0.94 -1.40 -2.06 4.18 3.68 2.98 2.04 1.61 1.66 0.00
Long-Term Debt to NOPAT		 0.77 0.79 0.90 1.09 5.72 5.04 4.10 2.91 2.28 2.35 0.00
Altman Z-Score		 4.65 5.19 5.46 5.83 2.75 2.68 3.12 3.71 4.51 5.05 10.50
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 10.31% 10.07% 9.61% 9.27% 18.10% 17.89% 12.26%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.45 4.21 4.19 4.00 2.92 3.31 3.05 3.06 3.02 3.18 4.48
Quick Ratio		 2.02 2.47 2.57 2.53 1.45 1.58 1.51 1.52 1.48 1.51 3.03
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 38 32 44 26 -381 -374 -383 -390 14 5.37 -1.89
Operating Cash Flow to CapEx		 1,468.05% 224.70% 2,453.81% 756.03% 150.21% 298.21% 0.00% 0.00% 874.02% 523.19% 799.20%
Free Cash Flow to Firm to Interest Expense		 85.92 73.05 106.86 62.64 -135.37 -90.19 -95.92 -107.36 4.76 2.12 -1.05
Operating Cash Flow to Interest Expense		 60.23 14.17 77.58 66.13 2.96 1.96 5.19 6.11 9.94 5.47 9.95
Operating Cash Flow Less CapEx to Interest Expense		 56.13 7.86 74.41 57.38 0.99 1.30 5.41 6.40 8.80 4.42 8.71
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.13 1.05 1.00 0.92 0.70 0.75 0.78 0.84 0.72 0.74 0.67
Accounts Receivable Turnover		 5.75 5.50 5.41 5.98 5.01 5.54 5.53 6.00 5.46 5.88 5.06
Inventory Turnover		 2.74 2.60 2.47 2.47 2.23 2.34 2.52 2.74 2.50 2.47 2.47
Fixed Asset Turnover		 17.44 15.98 15.23 14.01 12.67 13.42 14.18 15.41 14.03 14.66 15.54
Accounts Payable Turnover		 8.07 8.28 7.98 8.08 7.42 8.76 8.20 8.72 8.05 7.75 6.37
Days Sales Outstanding (DSO)		 63.45 66.39 67.53 61.04 72.79 65.90 65.96 60.82 66.90 62.07 72.07
Days Inventory Outstanding (DIO)		 133.01 140.33 147.92 147.56 163.55 155.82 144.61 133.39 145.92 148.07 147.97
Days Payable Outstanding (DPO)		 45.21 44.08 45.73 45.19 49.20 41.65 44.53 41.88 45.36 47.10 57.30
Cash Conversion Cycle (CCC)		 151.25 162.64 169.72 163.41 187.13 180.07 166.03 152.33 167.45 163.04 162.74
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 263 272 263 254 655 666 669 668 658 681 706
Invested Capital Turnover		 2.32 2.12 2.03 2.00 1.16 1.19 1.27 1.41 1.03 1.04 1.08
Increase / (Decrease) in Invested Capital		 -24 -18 -26 -18 392 394 407 414 3.19 15 36
Enterprise Value (EV)		 745 828 927 1,133 1,424 1,192 1,402 1,713 2,154 2,522 3,501
Market Capitalization		 822 900 1,020 1,247 1,129 903 1,137 1,473 1,921 2,280 3,704
Book Value per Share		 $26.66 $27.17 $28.24 $29.28 $28.74 $30.06 $31.95 $33.78 $33.61 $34.68 $71.48
Tangible Book Value per Share		 $20.71 $21.44 $22.53 $23.48 ($6.33) ($4.75) ($2.49) ($0.64) ($0.57) $0.00 $37.22
Total Capital		 401 407 416 427 734 743 739 735 716 740 1,012
Total Debt		 60 60 60 60 292 285 253 226 198 205 0.00
Total Long-Term Debt		 60 60 60 60 292 285 253 226 198 205 0.00
Net Debt		 -77 -72 -94 -114 214 208 184 159 140 145 -306
Capital Expenditures (CapEx)		 1.83 2.74 1.31 3.62 5.56 2.73 -0.88 -1.04 3.38 2.64 2.24
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 144 157 142 127 176 190 195 203 200 213 237
Debt-free Net Working Capital (DFNWC)		 271 278 286 291 245 257 255 261 257 272 543
Net Working Capital (NWC)		 271 278 286 291 245 257 255 261 257 272 543
Net Nonoperating Expense (NNE)		 2.65 -1.95 -0.21 0.19 4.34 0.95 -3.05 1.88 11 4.95 0.59
Net Nonoperating Obligations (NNO)		 -77 -74 -94 -114 214 208 184 159 140 145 -306
Total Depreciation and Amortization (D&A)		 3.35 3.71 3.44 3.64 5.82 6.98 7.00 7.08 7.08 6.95 7.67
Debt-free, Cash-free Net Working Capital to Revenue		 22.50% 26.30% 25.44% 24.18% 32.96% 34.05% 32.87% 31.29% 29.54% 30.35% 31.81%
Debt-free Net Working Capital to Revenue		 42.34% 46.65% 51.12% 55.39% 45.90% 46.01% 42.85% 40.18% 38.10% 38.82% 72.95%
Net Working Capital to Revenue		 42.34% 46.65% 51.12% 55.39% 45.90% 46.01% 42.85% 40.18% 38.10% 38.82% 72.95%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.84 $2.45 $2.93 $1.26 ($0.26) $2.79 $4.17 $3.45 ($0.85) $1.77 $3.69
Adjusted Weighted Average Basic Shares Outstanding		 12.78M 12.75M 12.62M 12.55M 12.62M 12.57M 12.67M 12.66M 12.64K 12.67M 13.60M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.91 $3.68
Adjusted Weighted Average Diluted Shares Outstanding		 12.76M 12.62M 12.55M 12.55M 12.54M 12.67M 12.66M 12.66M 10.55K 10.55M 13.61M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 12.76M 12.62M 12.55M 12.55M 12.54M 12.67M 12.66M 12.66M 12.66M 12.72M 14.44M
Normalized Net Operating Profit after Tax (NOPAT)		 18 14 19 9.05 12 17 21 23 19 20 35
Normalized NOPAT Margin		 12.91% 10.91% 14.35% 7.32% 8.16% 11.18% 12.31% 13.02% 10.54% 11.20% 16.42%
Pre Tax Income Margin		 9.64% 15.89% 17.18% 9.05% 4.93% 15.62% 20.02% 15.65% 5.44% 9.97% 17.92%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 27.64 45.32 53.38 24.45 3.26 6.66 9.37 8.65 8.52 7.97 21.24
NOPAT to Interest Expense		 32.85 32.09 44.80 19.97 3.83 4.64 5.95 6.73 5.83 7.88 19.18
EBIT Less CapEx to Interest Expense		 23.54 39.02 50.22 15.70 1.29 6.00 9.59 8.93 7.39 6.93 20.00
NOPAT Less CapEx to Interest Expense		 28.74 25.78 41.64 11.22 1.85 3.98 6.17 7.02 4.70 6.83 17.94
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 4.73% 4.66% 5.30% 6.37% 7.02% 6.67% 5.77% 4.67% 4.68% 4.91% 7.89%
Augmented Payout Ratio		 4.87% 13.16% 26.88% 35.85% 39.65% 25.59% 8.92% 4.67% 4.68% 4.91% 7.89%

Financials Breakdown Chart

Key Financial Trends

Bel Fuse (NASDAQ:BELFA) has delivered a strong rebound in profitability and operating cash flow over the last four quarters, but the balance sheet now carries more debt and lower liquidity than it did a year ago.

Revenue has continued to grow on a year-over-year basis in 2025 and early 2026, while gross profit has held up well. The more notable improvement is in earnings: after a weak Q4 2024 and a soft Q1 2025, Bel Fuse posted much stronger results in the back half of 2025 and into Q1 2026. At the same time, the company has used cash for acquisitions and debt management, which has shifted the risk profile somewhat higher.

  • Revenue growth is intact. Q1 2026 revenue rose to $178.5 million from $152.2 million in Q1 2025, showing solid top-line momentum.
  • Margins improved year over year. Q1 2026 gross profit was $69.6 million versus $58.8 million in Q1 2025, and operating income increased to $23.7 million from $25.0 million in the prior year quarter despite a tougher expense mix.
  • Recent quarters show a clear earnings recovery. Net income attributable to common shareholders improved to $11.4 million in Q1 2026 from a loss of $5.4 million in Q4 2025.
  • Operating cash flow is positive. Q1 2026 operating cash flow was $13.8 million, extending a pattern of cash generation.
  • The company remains profitable on a trailing quarterly basis. Q1 2026 diluted EPS was $0.91, a sharp improvement from the loss reported in Q4 2025.
  • Equity has grown over time. Total common equity increased to $438.9 million in Q1 2026 from $376.9 million in Q1 2025, reflecting retained earnings growth.
  • Balance sheet size is stable, but composition has changed. Total assets were essentially flat year over year at about $952 million, even as goodwill and intangibles remained a large part of assets.
  • Working capital is being supported by inventory and receivables. In Q1 2026, inventories were $181.2 million and receivables were $129.4 million, both substantial current asset components.
  • Acquisition activity has influenced the financials. Q1 2026 cash flow included $15.2 million of acquisitions, continuing a strategy that can support growth but also adds integration risk.
  • Debt is still meaningful. Long-term debt was $204.5 million at Q1 2026, down from $284.995 million in Q1 2025 but still a sizable obligation.
  • Liquidity is lower than a year ago. Cash and equivalents fell to $59.4 million in Q1 2026 from $65.9 million in Q1 2025, while total current liabilities rose to $124.7 million from $111.2 million.
  • Interest and tax payments are material cash uses. Q1 2026 cash interest paid was $2.55 million and cash income taxes paid were $5.69 million, both meaningful drains on free cash flow.
  • Q4 2025 was a weak quarter. The company reported a net loss attributable to common shareholders of $5.4 million, reminding investors that earnings can still be volatile quarter to quarter.
  • Noncontrolling interests complicate the earnings picture. A large redeemable noncontrolling interest balance remains on the balance sheet, which can dilute the value attributable to common shareholders.

Bottom line: Bel Fuse appears to be in better operating shape than it was a year ago, with improving sales and a sharp rebound in profitability. However, investors should keep an eye on leverage, acquisition-related spending, and whether the company can keep converting earnings into cash consistently.

08/10/26 12:02 PM ETAI Generated. May Contain Errors.

Bel Fuse Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Bel Fuse's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Bel Fuse's net income appears to be on an upward trend, with a most recent value of $74.11 million in 2025, rising from $19.20 million in 2015. The previous period was $49.19 million in 2024. View Bel Fuse's forecast to see where analysts expect Bel Fuse to go next.

Bel Fuse's total operating income in 2025 was $111.00 million, based on the following breakdown:
  • Total Gross Profit: $264.42 million
  • Total Operating Expenses: $153.42 million

Over the last 10 years, Bel Fuse's total revenue changed from $567.08 million in 2015 to $675.46 million in 2025, a change of 19.1%.

Bel Fuse's total liabilities were at $416.53 million at the end of 2025, a 18.1% decrease from 2024, and a 20.6% increase since 2015.

In the past 10 years, Bel Fuse's cash and equivalents has ranged from $53.91 million in 2018 to $89.37 million in 2023, and is currently $57.80 million as of their latest financial filing in 2025.

Over the last 10 years, Bel Fuse's book value per share changed from 19.61 in 2015 to 33.61 in 2025, a change of 71.4%.


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Financial statements for NASDAQ:BELFA last updated on 8/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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